olivLaw · US equity research
Envoy Medical, Inc. COCH
Orthopedic, Prosthetic & Surgical Appliances & Supplies · SIC 3842 · Vertical: Orthopedic, Prosthetic & Surgical Appliances & Supplies (SIC 3842)
Envoy Medical is a hearing health company developing the fully implanted Acclaim CI cochlear implant, which is still in a pivotal clinical trial and has so far produced no meaningful product sales. The company completed trial enrollment, submitted the first module of its PMA application to the FDA, and reported a mean 12-month word recognition score of 53.2%, while its net loss and capital needs remain large.
At the close of 04 Nov 2026, Envoy Medical, Inc. (COCH) stock was 7.12 USD (+7.55% on the day), with market capitalisation 549.6 m USD, dividend yield 0.33%, beta 1.67, 52-week range 0.39–7.12 USD. Latest reported quarter (Q2 2026): revenue of 51.0 k USD (−34.6% YoY), net income of -6.0 m USD, diluted EPS -0.07 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 89.3
- overbought (≥ 70)
- Bollinger (20, 2)
- -1.97 – 9.72
- in the upper half of the band · %B 0.78 · band width 301.8%
- SMA 50 / 200
- 1.97 / 1.01
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.64 / 1.38
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +993.7% | −1.1% | +994.8 pp | — |
| 3 months | +940.9% | −0.5% | +941.4 pp | — |
| 6 months | +953.3% | +4.4% | +948.9 pp | — |
| Year to date | +977.2% | +12.3% | +964.8 pp | — |
| 1 year | +882.1% | +13.5% | +868.5 pp | −2.5% |
| 3 years | +578.1% | +76.4% | +501.7 pp | −4.2% |
| 5 years | −27.1% | +63.7% | −90.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 56.0 k | 42.0 k | 46.0 k | 78.0 k | 42.0 k | 75.0 k | 39.0 k | 51.0 k |
| Cost of revenue | 187.0 k | 157.0 k | 226.0 k | 234.0 k | 203.0 k | 211.0 k | 313.0 k | 278.0 k |
| Research & development | 2.8 m | 2.5 m | 2.7 m | 2.5 m | 2.7 m | 4.6 m | 3.6 m | 3.1 m |
| Operating income | -5.0 m | -4.5 m | -5.1 m | -5.1 m | -5.7 m | -6.4 m | -6.0 m | -5.6 m |
| Interest expense | 264.0 k | 384.0 k | 495.0 k | 624.0 k | 471.0 k | 0 | — | — |
| Net income | -6.0 m | -4.6 m | -5.0 m | -5.7 m | -6.5 m | -6.6 m | -4.4 m | -6.0 m |
| Diluted EPS | -0.39 | -0.24 ≈ | -0.29 | -0.32 | -0.35 | -0.23 ≈ | -0.08 | -0.07 |
| Operating cash flow | -2.6 m ≈ | -5.1 m | -3.7 m | -4.5 m ≈ | -4.3 m ≈ | -5.7 m | -6.1 m | -5.5 m ≈ |
| Capex | 1.2 m ≈ | -534.0 k | 6.0 k | 1.0 k ≈ | 0 ≈ | 172.0 k | — | — |
| Dividends paid | — | 614.0 k | 1.2 m | 607.0 k ≈ | 0 ≈ | -1.0 k | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | unavailable | 237.0 k | 316.0 k | 225.0 k | 241.0 k |
| Revenue YoY | unavailable | unavailable | +33.3% | −28.8% | +7.1% |
| Net income | -251.6 k | -15.9 m | -29.9 m | -20.8 m | -23.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -1.57 | -2.54 | -1.49 | -1.23 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | -6,718.6% | -9,469.0% | -9,242.2% | -9,857.3% |
| Free cash flow | unavailable | -9.0 m | -17.2 m | -18.9 m | -18.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 3.7 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- -12.2 m USD
- Total assets
- 8.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.54x
- ROE
- unavailable
- ROA
- -236.4%
- FCF margin
- -7,626.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Revenue | — | 237.0 k | 316.0 k | 225.0 k | 241.0 k | SEC (XBRL)· 23 Mar 2026verified |
| Cost of revenue | — | 498.0 k | 789.0 k | 742.0 k | 874.0 k | SEC (XBRL)· 23 Mar 2026verified |
| Gross profit | — | -261.0 k ≈ | -473.0 k ≈ | -517.0 k ≈ | -633.0 k ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Research & development | — | 5.0 m | 9.0 m | 10.2 m | 12.5 m | SEC (XBRL)· 23 Mar 2026verified |
| SG&A | — | 2.6 m | 7.3 m | — | — | SEC (XBRL)· 01 Apr 2024verified |
| Operating income | -5.2 m | -8.7 m | -18.4 m | -19.3 m | -22.3 m | SEC (XBRL)· 23 Mar 2026verified |
| Interest expense | — | — | — | 816.0 k | 1.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Pre-tax income | -251.6 k | 20.7 m | — | -20.8 m | -23.8 m | SEC (XBRL)· 23 Mar 2026verified |
| Income tax | — | 1.5 m | — | — | — | SEC (XBRL)· 03 Apr 2023verified |
| Net income | -251.6 k | -15.9 m | -29.9 m | -20.8 m | -23.8 m | SEC (XBRL)· 23 Mar 2026verified |
| Diluted EPS | — | -1.57 | -2.54 | -1.49 | -1.23 | SEC (XBRL)· 23 Mar 2026verified |
| Weighted average diluted shares | — | 10.1 m | 12.3 m | 18.8 m | 23.3 m | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Cash | 149.8 k | 183.0 k | 4.2 m | 5.5 m | 3.7 m | SEC (XBRL)· 23 Mar 2026verified |
| Receivables | — | 41.0 k | 70.0 k | 38.0 k | 34.0 k | SEC (XBRL)· 23 Mar 2026verified |
| Inventories | — | 1.3 m | 1.4 m | 1.7 m | 1.5 m | SEC (XBRL)· 23 Mar 2026verified |
| Current assets | 863.2 k | 1.6 m | 7.5 m | 8.9 m | 6.3 m | SEC (XBRL)· 23 Mar 2026verified |
| Property, plant & equipment, net | — | 331.0 k | 351.0 k | 1.3 m | 1.0 m | SEC (XBRL)· 23 Mar 2026verified |
| Total assets | 426.9 m | 2.6 m | 8.3 m | 11.5 m | 8.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Accounts payable | 618.7 k | 1.0 m | 1.6 m | 1.7 m | 2.9 m | SEC (XBRL)· 23 Mar 2026verified |
| Current liabilities | 2.7 m | 2.5 m | 7.3 m | 7.5 m | 11.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Total liabilities | 38.6 m | 38.8 m | 10.0 m | 30.4 m | 20.3 m | SEC (XBRL)· 23 Mar 2026verified |
| Equity | -45.0 m † | -36.2 m † | -1.8 m † | -18.8 m † | -12.2 m † | SEC (XBRL)· 23 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Operating cash flow | -3.2 m | -8.8 m | -17.1 m | -17.9 m | -18.2 m | SEC (XBRL)· 23 Mar 2026verified |
| Capex | — | 218.0 k | 153.0 k | 980.0 k | 179.0 k | SEC (XBRL)· 23 Mar 2026verified |
| Free cash flow | — | -9.0 m ≈ | -17.2 m ≈ | -18.9 m ≈ | -18.4 m ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Investing cash flow | -425.0 m | -218.0 k | -153.0 k | -980.0 k | -179.0 k | SEC (XBRL)· 23 Mar 2026verified |
| Financing cash flow | 428.4 m | 8.1 m | 21.3 m | 20.2 m | 16.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Dividends paid | — | — | — | 2.4 m | 1.8 m | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 39.6% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 549.6 m USD
Key indicators
Coverage and freshness
Score by group
40% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 39.6% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -11,304.8% | 0 (vs peers) | 16% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 0.6% | 5 (on a fixed band) | 21% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -14.9x | 0 (on a fixed band) | 16% |
| Current ratio · Balance sheet | 1.7x | 78 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -4.0% | 0 (on a fixed band) | 21% |
| Shareholder yield (distributions) · Returns | 0.3% | 5 (on a fixed band) | 16% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet31/100 · 2/3 factors with a value
- Growth· partial5/100 · 1/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns· partial5/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ENVOY MEDICAL, INC. (COCH). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 241.0 k USD in 2025; YoY growth 7.1%; net margin -11,304.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 39.6% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 1.7x
What contradicts it
- Net margin: -11,304.8%
- Revenue CAGR 3Y: 0.6%
- Interest coverage: -14.9x
- FCF yield: -4.0%
- Shareholder yield (distributions): 0.3%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Orthopedic, Prosthetic & Surgical Appliances & Supplies (SIC 3842) · same industry (4-digit SIC) · compared with 23 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ISRGIntuitive Surgical, Inc. | 167.1 bn | 58.3 | 18.0% | 25.5% | +20.5% | −16% / +55% |
| EWEdwards Lifesciences Corporation | 57.1 bn | 56.2 | 9.7% | 15.3% | +11.5% | +15% / +47% |
| SNNSmith & Nephew plc | 28.5 bn | 45.3 | 11.8% | 10.1% | +6.1% | −2% / +25% |
| STESTERIS plc | 24.2 bn | 30.0 | 11.4% | 13.3% | +8.7% | −7% / +23% |
| ZBHZimmer Biomet Holdings, Inc. | 20.8 bn | 27.9 | 6.0% | 9.0% | +7.2% | +13% / −5% |
| ALGNAlign Technology, Inc. | 11.6 bn | 24.0 | 11.9% | 11.8% | +0.9% | +12% / −23% |
| MSAMsa Safety Inc | 6.8 bn | 22.8 | 22.1% | 15.0% | +3.7% | +10% / +2% |
| ESTAEstablishment Labs Holdings Inc. | 2.0 bn | — | -175.3% | -15.8% | +27.1% | −3% / +161% |
| ENOVEnovis Corp | 1.4 bn | — | -54.3% | -48.0% | +6.7% | −19% / −51% |
| CDRECadre Holdings, Inc. | 1.3 bn | 33.8 | 11.6% | 5.6% | +7.5% | −28% / −4% |
| AVRAnteris Technologies Global Corp. | 596.4 m | — | -75.1% | -4,619.3% | −29.2% | +49% / unavailable |
| COCHEnvoy Medical, Inc. | 549.6 m | — | — | -11,304.8% | +7.1% | +882% / +578% |
| ZJYLJin Medical International Ltd. | 483.7 m | 309.0 | 4.1% | 5.8% | −12.0% | −39% / −87% |
| SMTISanara Medtech Inc. | 297.0 m | — | -147.7% | -29.2% | +19.0% | +55% / −0% |
| INGNInogen, Inc. | 191.6 m | — | -13.1% | -6.9% | +3.9% | +2% / +24% |
| LAKELakeland Industries, Inc. | 88.7 m | — | -19.6% | -14.0% | +15.2% | −41% / −39% |
| NTRBNutriband Inc. | 73.9 m | — | -100.7% | -430.4% | −4.8% | +23% / +140% |
| APTAlpha Pro Tech, Ltd. | 58.6 m | 14.1 | 6.6% | 6.8% | +2.3% | +25% / +17% |
| CLGNCollPlant Biotechnologies Ltd | 54.2 m | — | -117.6% | -484.6% | +360.4% | −81% / −92% |
| MYOMyomo, Inc. | 51.5 m | — | -123.8% | -33.5% | +25.7% | +46% / −58% |
| MLSSMilestone Scientific Inc. | 29.2 m | — | -121.7% | -44.0% | +4.0% | +6% / −61% |
| LFWDLifeward Ltd. | 17.2 m | — | -225.6% | -141.3% | −14.1% | −13% / −90% |
| CUPRCuprina Holdings (Cayman) Limited | 14.1 m | — | -1,115.0% | -9,366.7% | +9.2% | −64% / unavailable |
| BBLGBone Biologics Corporation | 1.2 m | — | -47.5% | — | 0.0% | −77% / −98% |
1- and 3-year price returns: for COCH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Envoy Medical is a hearing health company developing the fully implanted Acclaim CI cochlear implant, which is still in a pivotal clinical trial and has so far produced no meaningful product sales. The company completed trial enrollment, submitted the first module of its PMA application to the FDA, and reported a mean 12-month word recognition score of 53.2% 13, while its net loss and capital needs remain large.
SWOT
Strengths
- The company has two decades of experience with implantable sensor technology and an FDA-approved device, the Esteem FI-AMEI 1.
- Enrollment of the Acclaim CI pivotal trial is complete, and early 12-month data show a clear improvement in speech understanding 3.
- The company received additional patents in Australia and Europe, strengthening its intellectual property position 3.
Weaknesses
Opportunities
- If the FDA approves Acclaim CI, the company could enter an adult market with unmet needs, especially among patients who avoid external implants 1.
- The device could attract patients who use hearing aids only partially, thanks to continuous use and the absence of external components 1.
- If reimbursement opens for fully implanted devices, it could also broaden access for the Esteem FI-AMEI 1.
Risks
- Capital needshigh
The company has reported repeated net losses and a large accumulated deficit; without new funding it could reduce or delay activities 1.
- Dilutionmedium
Warrants issued in 2025 and 2026 can be exercised at prices far below the February 2026 offering price and could dilute shareholders 1.
- Nasdaq listingmedium
The company has had issues with market value and minimum bid price requirements, and a new non-compliance could lead to delisting 1.
- Reimbursementmedium
CMS previously classified the Esteem FI-AMEI as a hearing aid, and a lack of reimbursement could also affect access to the Acclaim CI 1.
Investment thesis
What would need to be true (bull case)
- If 12-month data hold across the full cohort and the PMA advances on schedule, the company could reach a first approval for a fully implanted cochlear implant.
- The market of adults with severe to profound loss is large, and removing external components could speed up adoption.
- The expanded patent portfolio in 2026 strengthens protection of the implantable sensor technology.
What would break the thesis
- The company has no significant sales, and losses and capital needs could continue if approval is delayed.
- The Esteem FI-AMEI failed to gain traction, which raises questions about market access even after approval.
- Dilution from warrants and repeated financings could weigh on the value of existing shares.
What to watch
- Filing of remaining PMA modules and any FDA decision2027
- Final 12-month data for the 56 trial participants2027
- Cash levels and funding needsnext 10-K
- Compliance with Nasdaq listing requirements during the monitoring period2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Envoy Medical, Inc. describes itself as a hearing health company focused on innovative medical technologies across the hearing loss spectrum 1. Its lead product, the Acclaim CI, is a fully implanted cochlear implant that captures sound through a piezoelectric sensor placed in the middle ear, with no external component worn on the ear 1. The company's first product, the Esteem FI-AMEI, received FDA approval in 2010 but failed to gain commercial traction because CMS classified it as a hearing aid and did not cover it 1.
Commercial activity remains very limited. In the second quarter of 2026 net revenue was only 51 thousand USD, and cost of goods sold was 278 thousand USD 3. The Acclaim CI is not approved for sale, and the company does not expect product sales unless it completes development and obtains regulatory approval 1.
The company has funded operations mainly through equity and debt. In February 2026 it completed a public offering with gross proceeds of approximately 30000 thousand USD, intended for working capital during the Acclaim CI clinical trial 1. Cash at June 30, 2026 was 19679 thousand USD 3.
Segments
Acclaim CI (fully implanted cochlear implant)
Acclaim CI is the key product in development and received Breakthrough Device Designation from the FDA in 2019 1. The pivotal trial has completed enrollment of its 56 patients 1. The PMA is being filed in modules; the first was submitted in the second quarter of 2026, and the final module with final trial data is targeted for the second quarter of 2027 3.
Esteem FI-AMEI (fully implanted middle ear implant)
Esteem FI-AMEI is the only FDA-approved fully implanted active middle ear implant commercially available in the United States, but adoption has been low because of lack of reimbursement 1. The company presents it as evidence of its experience with implantable sensor technology rather than as a revenue driver 1.
Market context
The hearing loss market is large: according to the company's cited sources, about 15% of US adults reported some hearing difficulty in 2022 1. The company estimates that roughly 2.8 million US adults could qualify for a cochlear implant and that the US adult market could exceed 80 billion USD, based on its own price and penetration assumptions 1. These are company estimates, not independently verified figures.
The company cites adult cochlear implant penetration of only 5-8%, and argues that removing the external component could increase adoption 1. If the FDA approves the device, competition with the three established incumbents will depend on reimbursement and proof of clinical benefit 1.
Trends
- Positive 12-month clinical datatailwind
The first 10 Stage 1 participants reached a mean CNC word recognition score of 53.2% at 12 months, versus 15.2% before implantation 3. If these results hold across the full study, they could support the PMA application.
- Modular PMA submissionmixed
The first module of the PMA application was submitted to the FDA, and the fourth and final module is targeted for the second quarter of 2027 3. The modular path allows earlier FDA feedback, but the timeline depends on completing the trial data.
- Dilution from financings and warrantsheadwind
In February 2026 the company issued large numbers of warrants with a 0.40 USD exercise price, which could dilute existing shareholders if exercised 1. The company also terminated its ATM equity program 3.
- Nasdaq listing compliance riskheadwind
The company previously received Nasdaq notices on market value of listed securities and minimum bid price, and regained compliance only temporarily 1. If it fails to stay compliant, delisting could reduce share liquidity.
Competitive position
The company notes that the cochlear implant market is dominated by three established incumbents with market acceptance and reimbursement pathways 1. Partially implanted cochlear implants are the current standard, and competitors could arrive quickly if Acclaim CI approval is delayed 1.
The company warns that if FDA approval is materially delayed, competitors could offer products with similar features before Envoy does 1. Its stated advantages are the absence of external components, less frequent battery handling, and no need for a backup processor 1.
- Established cochlear implant manufacturers
The sources refer to three main incumbents in the cochlear implant market without naming them; the company describes them as having entrenched acceptance and reimbursement.
- Partially implanted cochlear implant makers
Current devices use an external component worn on the ear, which Envoy views as their main limitation.
- Conventional hearing aids
They are the most common hearing device, but are not indicated for severe to profound loss, the segment targeted by Acclaim CI.
- Other middle ear implants
Middle ear implants are little used because of lack of reimbursement, according to the sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Exclusive: Trump envoy's push to reopen Lithuanian ports to Belarus exposes rift in WashingtonKyiv Independent (UA, EN) · 05 Nov 2026 · EN
- Meloni warns of need for dedicated EU envoy to avoid 'condemning Europe to irrelevance' in peace talksKyiv Independent (UA, EN) · 05 Nov 2026 · EN
- Kremlin Envoy Dmitriev Presents Melania Trump With Painting in Recognition of Oleshky CeasefireKyiv Post · 05 Nov 2026 · EN
- Putin personally gave instructions for humanitarian mission in Alyoshki, envoy saysTASS (RU, EN) · 05 Nov 2026 · EN
- Putin highly values Trump's peace efforts on Ukraine, envoy says at White HouseTASS (RU, EN) · 05 Nov 2026 · EN
- Melania Trump delivers personal letters to Zelenskyy and Putin through Ukrainian MP and Russian envoyUkrainska Pravda (UA, EN) · 05 Nov 2026 · EN
- Meloni urges EU to name single envoy for Ukraine talks — BloombergTASS (RU, EN) · 05 Nov 2026 · EN
- Israel's UN envoy says it was US that decided to attack IranTASS (RU, EN) · 05 Nov 2026 · EN
- Why Is Putin Sending His Envoy to Washington After Trump’s Midterm Defeat?Modern Diplomacy · 05 Nov 2026 · EN
- Putin’s envoy backs Kushner’s plan to create European security architectureTASS (RU, EN) · 05 Nov 2026 · EN
- Next British envoy to Japan calls for stronger cooperation on AIThe Japan Times · 05 Nov 2026 · EN
- US envoy Kushner praises Ukrainian team's engagement in efforts to reach a peace settlementUkrainska Pravda (UA, EN) · 05 Nov 2026 · EN
- Trump’s NATO envoy expects no change in US foreign policy after midterm election resultsAnadolu Agency (TR, EN) · 04 Nov 2026 · EN
- Canadians support return of Russian national team to ice — envoyTASS (RU, EN) · 04 Nov 2026 · EN
- Ottawa getting rid of serious rivals by sidelining hockey players from Russia — envoyTASS (RU, EN) · 04 Nov 2026 · EN
- Somalia condemns Israeli envoy’s accreditation in breakaway SomalilandAnadolu Agency (TR, EN) · 03 Nov 2026 · EN
- Venezuela’s new envoy pays court in Washington as US tightens gripbne IntelliNews (EN) · 03 Nov 2026 · EN
- Pakistan names 1st female envoy to AnkaraHürriyet Daily News — Türkiye (TR, EN) · 03 Nov 2026 · EN
- Ukrainian attacks kill 40 Russians, including three children, last week — envoyTASS (RU, EN) · 03 Nov 2026 · EN
- Ukraine's envoy to EU says Hungary has raised no new objections to negotiating clusters being opened for UkraineUkrainska Pravda (UA, EN) · 03 Nov 2026 · EN
SEC filings
- Current report27 Oct 2026Item 3.03 · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
- Current report16 Oct 2026Shareholder vote · Financial statements and exhibits
- Current report07 Oct 2026Other events · Financial statements and exhibits
- Proxy statement31 Aug 2026
- Current report27 Aug 2026Departure or appointment of officers · Financial statements and exhibits
- Current report10 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report10 Aug 2026
- Current report30 Jun 2026Termination of a material agreement · Financial statements and exhibits
- Current report25 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report22 May 2026Delisting notice
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Envoy Medical, Inc. · 23 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Envoy Medical, Inc. · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Envoy Medical, Inc. · 10 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.